Needham & Company LLC Increases Similarweb (NYSE:SMWB) Price Target to $14.00

Similarweb (NYSE:SMWB) had its price objective lifted by Needham & Company LLC from $11.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 21.63% from the stock’s previous close.

SMWB has been the topic of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Similarweb in a report on Wednesday, August 7th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Barclays raised their target price on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. William Blair reiterated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Finally, Northland Securities initiated coverage on shares of Similarweb in a research report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price objective for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $12.86.

Similarweb Price Performance

Shares of SMWB stock opened at $11.51 on Thursday. The stock has a market cap of $931.38 million, a PE ratio of -104.64 and a beta of 0.84. The stock has a 50-day moving average of $9.07 and a 200-day moving average of $8.14. Similarweb has a one year low of $4.58 and a one year high of $11.95.

Institutional Investors Weigh In On Similarweb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in shares of Similarweb during the 3rd quarter worth approximately $70,000. Quantbot Technologies LP bought a new stake in Similarweb during the third quarter worth $75,000. ANTIPODES PARTNERS Ltd lifted its stake in Similarweb by 122.5% in the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after acquiring an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Similarweb in the 3rd quarter valued at about $122,000. Finally, Barclays PLC increased its stake in shares of Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after purchasing an additional 10,293 shares during the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.